The Supreme Court is set to hear the appeals of two cases next week which are expected to have a significant impact on cross-border insolvencies.

At the heart of these cases is the question of the extent to which English courts will embrace the principle of (modified) universalism.

This is the idea that there should, so far as possible, be a single insolvency proceeding in the jurisdiction in which the debtor (whether corporate or individual) is based, described memorably as ‘the golden thread running through English cross-border insolvency law since the 18th century’.

It is driven by notions of fairness – uniformity of approach to the creditors and others with dealings with the insolvency estate, wherever they are located.